In Paris on Tuesday, Michael O’Leary unveiled a dramatic restructuring of how Ryanair maintains its planes. Sporting a French rugby jersey, the aviation chief announced that the airline would move away from the “power-by-the-hour” model that it operated for the past three decades and instead look to bring the repair of its engines “in-house” by 2029. To do that, Ryanair agreed a multi-billion dollar 15-year deal to secure spare parts from France’s CFM, which had previously serviced the airline’s engines. These spare parts would be used by two new maintenance, repair and overhaul (MRO) facilities owned and operated by Ryanair.…

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